Should I take this $140k job?

Mr Turtle wrote:

To start, I’m 34 with 3 kids under 3 and a wife who makes $123k a year. I currently make $85k as a manager and am underpaid by about $30-$35k compared to my peers. The job I’m doing now was a bad decision because of the pay, but due to the experience gained it may have been a smart call. I have approached my directors and made my case for more money. They have said they can do over $100k, I’m guessing probably $105k, if I were a betting man. They also said they could be at $120k in one year but I have to move south (I’m in Midwest right now). Right now, our life is very difficult due to the young kids and we want to go down to a single income to help stabilize the house and allow me to go “all in” on my career with a goal to advance to much higher paying positions. 100-105 won’t due it for me, but we could make it work on $120k. Me staying home is not an option because that’s not my wheelhouse and my wife would end up working and taking care of the house!

In the second week in November, I applied to about 20 positions at different companies to see what I could get. I have an MBA from an unknown school, but some companies have taken a close look at me due to my experience and resume. Well actually, just ONE company. They have a location in the southeastern US will pay me $140k to manage for them but it doesn’t start until July.

Option 1, stay at current job for potential $120k:

This requires moving south and won’t happen until late 2022. It is also not guaranteed, but the opportunity is there. At the moment I have mastered the job at my current company, and can advance. However, in my department here, I will most likely max out around 160k in 5 years. They gave me a low paying job a year ago as a test. Now when my performance has come through I can feel them scrambling to help me, but nothing has materialized yet and probably won’t until review time in a couple months. Travel is 50% so that also factors as a negative here, although I feel the company has not updated their travel policy and with Zoom it’s more like 25-30%. Days when working are about 10-11 hours with every weekend off.

Option 2: $140k

This job is in a different industry and the only thing I will know how to do is really just manage my team. There is a high turnover rate in the position compared to my current job. I believe this job will require 12-13 hour days, but you are rewarded with long weekends and no travel. Within 5 years, if I am able to transfer my results from my old company, I could advance and be making 180-200k. The job starts in July and is located in southeastern US.

Feel free to ask more questions. I’m hoping there are some individuals here who have been down this road (going to one income, different types of jobs, moving, with small kids and family) and can give me advice. The wife and I are leaning toward leaving, but our family members think we are crazy. I want to see what anonymous posters think.

JYwl wrote:

will just give my thoughts: in this environment I would stay at your current job if you have made it clear you are being undervalued from a compensation perspective. I was in a similar situation and with the current pandemic and so many people quitting and leaving for other jobs (or none at all), our company raised us +30% base salaries and my friends that left are kicking themselves because they didn't come close to +30 in their new jobs with other companies (many demotion-type roles as they went to larger corporations). The obvious red flag is that if you have voiced your financial concerns and they have not been actioned on immediately they may not believe in you has a high performer, high potential manager.

If you don't get the comp adjustment you deserve, then leave... however, your wife is the breadwinner. Is there no angle for her to make it to $160? $180k? I work with some executive women (husbands stay home) and it is a great mix in this current climate.

Final advice: stop dreaming about the big 5-year $180k potential. If you're staying in the same field/industry you would know how competitive those moves are... focus on the now.

Mr Turtle wrote:

Thanks for the responses in such a short time. Wife and I are reading your input and we appreciate the genuine responses on all posts. Here's some more information:

While it is nice to have family watch a kid or two now and again, we cannot get any of our family to watch all 3 at once. So that makes it tougher to have a dual income family, although it is helpful even to drop off one or two when we need to.

Option 1 (current company) is more travel and the hours to do the job are about 50-55 per week. Option 2 (other company) is about the same hours but when I'm working it will be 100% on, and I will have longer weekends (they advertised). Option 2 has zero travel.

I believe (and they told me) Option 2 is set up for more money in the future, although I do not have a crystal ball. Option 1 (they told me) will be more money but they haven't penciled me in as a director at this point. As far as forecasting incomes, my wife is capped around where she is and won't increase her income, thus the plan to have her exit the workforce and maybe return in 5 years if she wants to.

High turnover is 100% true in new job. Although I don't have exact numbers for the new job, my old job's turnover in the position I'm in is nearly 0% because (if paid correctly) it is a job where people stay for a decade or more. Landing a higher paying job here at my current job is difficult, and the next promotion (after getting to 120k if that happens) looks to be 4-5 years out. However we could budget and make it work until that comes.

Right now, the only advice I haven't ran with from Letsrun is to present my offer to my current company. I wanted to wait and see what my company did. My thoughts are I had a very bold meeting with my current boss. I am the top performer in my position in my part of country, and top 3 in North America (granted out of only 35 people). It's not just whining for more money, it's saying, I will go elsewhere and I'm only asking for market pay. In today's world of reporting and glassdoor salaries, you cannot sneakily pay someone less anymore. If they did get to 120k, the decision becomes more equal.

Alexi Santana wrote:

JYwl wrote:

will just give my thoughts: in this environment I would stay at your current job if you have made it clear you are being undervalued from a compensation perspective. I was in a similar situation and with the current pandemic and so many people quitting and leaving for other jobs (or none at all), our company raised us +30% base salaries and my friends that left are kicking themselves because they didn't come close to +30 in their new jobs with other companies (many demotion-type roles as they went to larger corporations).

Agreed with this. It's a super-hot job market right now - it's really tough to hire people right now and some companies have been bending over backwards to either attract talent or get people to stay.

I'd stay with your current company but keep looking. You mentioned applying for 20 positions and only 1 working out - what I learned from recently going through a job search is that referrals mean everything and applying to a position online without a referral is long odds no matter who you are. I didn't hear back from the 3-5 positions I applied to online and had smooth processes with the 2 companies where someone referred me. Funny enough, the new job I'm taking is one I didn't hear back from originally when I applied online - but after a friend put me in tough with a recruiter I had an interview 2 weeks later. Fast forward a couple months and I have a ~40% increase in comp and better WLB.

All that said, don't go with an option that will still suck. Evaluate your network and reach out to people about open positions at their company - odds are they are struggling to fill them just like everyone else.

jecht wrote:

Alexi Santana wrote:

Agreed with this. It's a super-hot job market right now - it's really tough to hire people right now and some companies have been bending over backwards to either attract talent or get people to stay.

I'd stay with your current company but keep looking. You mentioned applying for 20 positions and only 1 working out - what I learned from recently going through a job search is that referrals mean everything and applying to a position online without a referral is long odds no matter who you are. I didn't hear back from the 3-5 positions I applied to online and had smooth processes with the 2 companies where someone referred me. Funny enough, the new job I'm taking is one I didn't hear back from originally when I applied online - but after a friend put me in tough with a recruiter I had an interview 2 weeks later. Fast forward a couple months and I have a ~40% increase in comp and better WLB.

All that said, don't go with an option that will still suck. Evaluate your network and reach out to people about open positions at their company - odds are they are struggling to fill them just like everyone else.

40% increase? I didn't know employers did that anymore...

I got a raise but it was only 11%. LOL. I'm still on the hunt. (38k to 42k). Not good enough.

jecht wrote:

Mr Turtle wrote:

To start, I’m 34 with 3 kids under 3 and a wife who makes $123k a year. I currently make $85k as a manager and am underpaid by about $30-$35k compared to my peers. The job I’m doing now was a bad decision because of the pay, but due to the experience gained it may have been a smart call. I have approached my directors and made my case for more money. They have said they can do over $100k, I’m guessing probably $105k, if I were a betting man. They also said they could be at $120k in one year but I have to move south (I’m in Midwest right now). Right now, our life is very difficult due to the young kids and we want to go down to a single income to help stabilize the house and allow me to go “all in” on my career with a goal to advance to much higher paying positions. 100-105 won’t due it for me, but we could make it work on $120k. Me staying home is not an option because that’s not my wheelhouse and my wife would end up working and taking care of the house!

In the second week in November, I applied to about 20 positions at different companies to see what I could get. I have an MBA from an unknown school, but some companies have taken a close look at me due to my experience and resume. Well actually, just ONE company. They have a location in the southeastern US will pay me $140k to manage for them but it doesn’t start until July.

Option 1, stay at current job for potential $120k:

This requires moving south and won’t happen until late 2022. It is also not guaranteed, but the opportunity is there. At the moment I have mastered the job at my current company, and can advance. However, in my department here, I will most likely max out around 160k in 5 years. They gave me a low paying job a year ago as a test. Now when my performance has come through I can feel them scrambling to help me, but nothing has materialized yet and probably won’t until review time in a couple months. Travel is 50% so that also factors as a negative here, although I feel the company has not updated their travel policy and with Zoom it’s more like 25-30%. Days when working are about 10-11 hours with every weekend off.

Option 2: $140k

This job is in a different industry and the only thing I will know how to do is really just manage my team. There is a high turnover rate in the position compared to my current job. I believe this job will require 12-13 hour days, but you are rewarded with long weekends and no travel. Within 5 years, if I am able to transfer my results from my old company, I could advance and be making 180-200k. The job starts in July and is located in southeastern US.

Feel free to ask more questions. I’m hoping there are some individuals here who have been down this road (going to one income, different types of jobs, moving, with small kids and family) and can give me advice. The wife and I are leaning toward leaving, but our family members think we are crazy. I want to see what anonymous posters think.

I hope it works out for you. My wife is 50-51k and is grateful (she used to make 43k). I'm at 38k and bumping to 42k. She wants to have kids but we can't have kids on an 88k combined salary. LOL.

Be grateful you didn't make the mistakes I made.